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In This List

3 insurers exposed to Capital One breach; Greenlight's future; European earnings

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


3 insurers exposed to Capital One breach; Greenlight's future; European earnings

AXIS Capital Holdings Ltd., American International Group Inc. and Axa XL have the largest gross exposure to the Capital One cyber breach incident, Insurance Insider reported. The companies may each have $25 million or more in gross exposure should the $400 million placement be exhausted.

MetLife Inc. subsidiary Metropolitan Life Insurance Co. will pay to settle the Environmental Protection Agency's claims of costs related to a site cleanup and resolve a lawsuit over its fiduciary duties under the Employee Retirement Income Security Act.

Liquidation or a large capital raise for Greenlight Capital Re Ltd. are "somewhere between very unlikely and remote at this stage," according to Chairman David Einhorn. However, he also said that the reinsurer, which has operations in the Cayman Islands and Ireland, was "not in a position to rule out any particular thing completely" as it continues to evaluate its future.

Brighthouse Financial Inc. President and CEO Eric Steigerwalt said his company's balance sheet is "well protected" for a low interest rate environment. Steigerwalt during a conference call to discuss second-quarter earnings said Brighthouse added interest rate protection during the first half of 2019 and is maintaining its $1.5 billion capital return target by 2021.

European bidders, including Paris-based CNP Assurances SA and Verona, Italy-based Società Cattolica di Assicurazione - SC are looking to acquire a controlling stake in the insurance arm of Bergamo, Italy-based Unione di Banche Italiane SpA, Reuters reported, citing sources.

Ageas SA/NV will maintain discipline on how much it pays for acquisitions despite missing out on recent deals, CEO Bart De Smet said Aug. 7. Also, the company's second-quarter net result rose to €354.6 million from €193.5 million in the prior-year period.

Munich Re reported second-quarter consolidated result attributable to equity holders of €993 million, up from €724 million a year ago. The German reinsurer attributed the result to low major losses and reserve releases for basic losses from prior years.

Sampo Oyj logged second-quarter group profit attributable to owners of the parent of €404 million, down from €586 million in the year-ago period. British insurer Legal & General Group PLC announced first-half profit after tax attributable to equity holders of £874 million, up year over year from £771 million.

MS&AD Insurance Group Holdings Inc.'s net income attributable to owners of the parent for the quarter ended June 30 rose 14.5% to ¥95.99 billion from ¥83.86 billion a year ago.

Click here for a recap of yesterday's earnings.

Fidelis Insurance Ireland DAC CEO and Chief Underwriting Officer Colm Lyons is departing the company. The company has named Robert Kelly CEO and Simon Crone chief underwriting officer.

Representatives of insurance companies and other finance companies operating in Hong Kong want order to return in the city, warning that continued unrest may cause investors' confidence to wane, the Global Times reported.

Now featured on S&P Global Market Intelligence

Auto insurance to remain near-term driver of US P&C industry results: U.S. property and casualty underwriting results for 2018 affirmed the outsized role that the private-passenger auto business will continue to play in the overall industry's fortunes.

3 big private auto insurers cut rates in H1; Allstate bucks trend: GEICO's decrease in Texas was the most-impactful rate cut during the first six months of 2019, according to analysis by S&P Global Market Intelligence.

Anthem CEO sees compensation soar in '18; Centene's Neidorff tops list again: Centene Chairman and CEO Michael Neidorff remained the highest-paid top executive at a public managed care insurer, earning $26.1 million in 2018, up 3.4% versus 2017.

Cambrex to be bought by Permira for $2.4B; Lynparza passes prostate cancer trial: Life sciences company Cambrex Corp. agreed to be acquired by an affiliate of London-based private equity firm Permira Advisers Ltd. for $60 per share in cash.

In other parts of the world

Asia-Pacific: CBA FY profit down 4.7% YOY; AMP mulls bank sale; China eases bank trading rules

Europe: Nets in €2.85B deal; UniCredit, ABN Amro profits rise; Commerzbank result dips

Middle East & Africa: Provisions dent SABB's H1 result; Nedbank cuts FY outlook; Moody's rates Niger

The day ahead

Early morning futures indicators pointed to a higher opening for the U.S. market.

In Asia, Hang Seng rose 0.08% to 25,997.03, while the Nikkei 225 fell 0.33% to 20,516.56.

In Europe, around midday, the FTSE 100 rose 0.91% to 7,236.71, and the Euronext 100 gained 1.40% to 1,037.19.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

On the macro front

The EIA petroleum status report and the consumer credit consensus are due out today.

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